Several U.S. states are set to provide tax refunds or stimulus payments to residents in November 2024, as the economy continues to adjust.
These initiatives, each reflecting unique state approaches to distributing surplus funds or sustaining ongoing aid programs, aim to support families and individuals through various direct payment methods.
Stimulus Checks Available in November
New Mexico residents who file their state taxes by May 31, 2024, qualify for a refund program. Heads of households, surviving spouses, and married couples filing jointly may receive up to $1,000, while single filers and married couples filing separately may receive up to $500.
Once tax returns are processed, payments will be automatically issued. Arizona’s Families Tax Rebate, included in the 2024 state budget, will benefit around 743,000 people. This program offers $250 per dependent under 17 and $100 per dependent over 17 based on 2021 tax filings. Payments are expected to start in November to provide families with additional support.
Colorado continues its TABOR return program, which redistributes excess state revenue back to taxpayers. In 2024, this amount is $847 for single filers and $1,694 for joint filers. Unlike previous years, refunds will be distributed more equitably, with higher refunds allocated to those with lower incomes.
Maryland’s extended child tax credit program will keep supporting families through 2024, providing up to $500 to eligible taxpayers for each child under six or each disabled child.
According to estimates, about 40,000 Maryland residents will benefit from this initiative, part of Governor Wes Moore’s broader strategy to combat child poverty.
California’s 2024 budget includes a one-time child tax credit of up to $3,600 for each qualifying child. Additionally, families with children under six who qualify for the California Earned Income Tax Credit can receive a young child tax credit of up to $1,083 from the state.
Source BY: MARCA